Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Sonus Networks from a hold rating to a buy rating and set a $9.75 price target for the company in a research note on Wednesday, August 17th. B. Riley reissued a buy rating and set a $12.25 price target on shares of Sonus Networks in a research note on Thursday, July 28th. DA Davidson initiated coverage on Sonus Networks in a research note on Wednesday, July 20th. They set a buy rating and a $12.00 price target for the company. Finally, TheStreet raised Sonus Networks from a sell rating to a hold rating in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $9.20.
Shares of Sonus Networks (NASDAQ:SONS) opened at 7.70 on Wednesday. Sonus Networks has a 1-year low of $5.15 and a 1-year high of $10.00. The stock has a 50 day moving average price of $8.53 and a 200-day moving average price of $8.45. The stock’s market capitalization is $380.32 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The firm earned $60.90 million during the quarter, compared to analyst estimates of $59.67 million. During the same period last year, the company earned ($0.10) EPS. Sonus Networks’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Sonus Networks will post $0.36 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Sonus Networks by 161.6% in the second quarter. BlackRock Inc. now owns 11,889 shares of the company’s stock worth $103,000 after buying an additional 7,344 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Sonus Networks during the second quarter worth $127,000. Springbok Capital Management LLC raised its stake in shares of Sonus Networks by 42.0% in the first quarter. Springbok Capital Management LLC now owns 23,125 shares of the company’s stock worth $174,000 after buying an additional 6,841 shares during the period. First Midwest Bank Trust Division raised its stake in shares of Sonus Networks by 43.8% in the second quarter. First Midwest Bank Trust Division now owns 25,580 shares of the company’s stock worth $222,000 after buying an additional 7,795 shares during the period. Finally, Nwam LLC purchased a new stake in shares of Sonus Networks during the second quarter worth $224,000. 68.22% of the stock is owned by institutional investors and hedge funds.
About Sonus Networks
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.
Receive News & Ratings for Sonus Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonus Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.